NSE Indices introduces India's first EV & New-age Automotive Index
NSE Indices Ltd, an auxiliary of the National Stock exchange, on Thursday launched the EV and automotive track to follow the presentation of organizations which structure a piece of the EV environment.
This would be the country’s very first electric vehicle (EV) index.
The public authority has forever been at the forerunner of outlining strategies connected with Electric Vehicle reception so EVs with the furthest down the line innovation can be made in the nation and draw in speculations by worldwide EV producers, in this way giving a lift to the Make in India initiative.
The base date for the new thematic indices is April 2, 2018, and the base worth is 1,000.
The record will be reconstituted semi-yearly and rebalanced on a quarterly basis.
The index is supposed to go about as a benchmark for asset managers and be a reference list followed by uninvolved assets as ETFs – Exchange traded funds and structured items.
NSE Indices said in a statement, “The launch of the Nifty EV and new-age automotive index will facilitate creation of products which will create opportunity for asset managers to invest in the electric vehicle and new-age automotive market thereby providing an investment vehicle to investors”.
